3. Accelerate Ltd is a company operating as a building construction company for several years. It had enjoyed strong performance earlier in the decade but has seen turnover drop in the recent financial period. The financial statements of the company for the last two years are shown below: Statement of comprehensive income for the years ended 31" March Sales Cost Of Sales Gross Profit Other Expenses Profit Before Tax & Interest (Operating Profit) Interest Payable Profit Before Tax Profit After Tax Statement of Financial Position as at 31st March ASSETS Non-current Assets (NBV) Land & Buildings Plant & Machinery Vehicles Current Assets Inventories Receivables Bank & Cash TOTAL ASSETS EQUITY & LIABILITIES 7/12 2020 2021 '000s '000s 2,430 2,135 (1,495) (1,425) 935 710 (770) (820) (110) (25) (20) 140 (130) (35) (20) 105 (150) 2020 2021 'm 'm 1,040 800 250 35 1,085 180 310 0 590 490 1,630 1,575 | Equity Share Capital Retained Earnings Total Equity 200 200 980 830 1,180 1,030 Non-Current Liabilities Long Term Loans 240 200 Total Non-Current Liabilities 240 200 Current Liabilities Payables Tax Liabilities 200 10 o 230 Bank Overdraft Total Current Liabilities TOTAL EQUITY & LIABILITIES 0 110 210 345 1,630 1,575 Required: i. Calculate 10 ratios for years 2020 and 2021, sufficient to enable you to understand the financial performance and position of Accelerate Ltd. ii. Discuss the performance of Accelerate Ltd for the year ended 31st March 2021 and analyse its financial position as at that date